What is the Definition of Purchasing Group?

What is the Definition of Purchasing Group?

An entity that offers insurance to groups of similar businesses with similar exposures to risk.

Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/

Label: Insurance
Theme: Dictionary of Insurance Terms

Other Questions: What is the definition of Annuity?

What is the Definition of Purchasing Group?

You can find random definition and meaning of insurance terms below:


What is the meaning of Insurable interest

A consideration of value that is insured under a policy. A person with insurable interest will suffer a genuine hardship if a loss should occur to the person or property they've insured. For instance, people have an insurable interest in their own lives and property, but generally do not have insurable interest in their neighbor's life or property. Insurable interest must be present in order for an insurance contract to be legal and valid.


What is the meaning of Leaseholder

An individual who possesses or has use of property through a lease.


What is the meaning of Lessee

An individual to whom a lease is granted.


Thank you for visiting our website and read this FAQ article about "What is the Definition of Purchasing Group?". We hope you get what you searching for.

definitionly.com is a website that contains information about the definition or meaning of a word. You can search for the terms you are looking for in the search field above.

Related Posts

Subscribe Our Newsletter